Plus [email protected] Au/0.4% Cu, is way below previous explorer results in the prospectus of 40m at 0.92 gt Au. Am I incorrect?
So for all their efforts they appear to have gone backwards, not improved on prior exploration results. Does not seem like it is even close to an economic intersection to me, am I incorrect?
That makes further drilling just as high-risk IMO. Yes, you can keep drilling and drilling and you might get lucky, but one would have expected with AI and modern exploration techniques they would at least be in the ballpark of prior results.
Anyway, I preferred the look of Ollenbergs, but am concerned about the approach and likely cash burn of a continued focus on expensive deep diamond drilling for potentially more low-grade results (Ie if they drill when the IP is not screaming : 'drill me').
The intimation they are going to throw more money at S.P. , plus the intimation in the main body (contrary to the disclaimer lower) that they will be drilling Ollenbergs and the IP is only for picking the best targets, and not really to see the quantity of sulfides; has finally shattered my faith in their approach. As has the constant 'looking for a project' with no mention of whether they have even looked at anything specific. Half expecting some flavour-of-the-month Li or REO project but no guidance on even their area of interest.
Of course, management not responding to my email put a specific type of frame around this quite early and I was also warned off due to PAC? Was it? But ignored that advice to my own regret.
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